COST ACCOUNTING 301 



Mar. 20. Paid for sundry household supplies, $28. 



Mar. 31. The household record shows the following commodi- 

 ties turned over to the house during January, February and 

 March: poultry, $4; eggs, $9.20; milk, $22. 



Mar. 31. During the three months, the household has sold for 

 cash part of the products as follows: eggs, $4; butter, $5. 



Apr. 1. Made a contract with Roy Wade similar to the one of 

 last year, except that he begins April 1 instead of May 1, and 

 is to receive $35 a month and his board, room and laundry, and 

 the use of a horse and buggy. 1 



Apr. 1. Sold some hay for $150 cash. 



Apr. 3. Bought mill feed for $30. 



Apr. 18. Paid for harness repairs, $4. (Harness is part of 

 the equipment.) 



Apr. 28. Paid horseshoeing bill of $2. 



Apr. 30. Credited Roy Wade with wages for April $35. 



Apr. 30. The household values the board of hired man at $20 

 for the month of April. 



Note. On the last day of each month from May to November, 

 both inclusive, you are to make entries for the $35 wages 

 credited to Roy Wade and for the $20 board without being told 

 to do so each time. 



May 8. Paid Roy Wade $5 on account. 



May 10. Paid for sundry repairs to equipment, $8. 



June 20. Paid cash for extra labor $6. 



June 25. Paid Roy Wade $7 on account. 



June 30. The household record shows the following commodi- 

 ties turned over to the house during April, May and June: 

 poultry, $6; eggs, $18; milk, $35. 



June 30. During the three months, the household has sold for 

 cash, part of the products as follows: eggs, $10; butter, $15. 



July 1. Paid Roy Wade on account $10. 



1 Theoretically, the value placed on the use of the horse and buggy 

 would be debited to Labor and credited to Miscellaneous Income or to 

 General Expense because this concession is equivalent to a recognition 

 that labor is worth more than $35 plus $20 board. Mr. Fay, however, 

 does not wish to consider the value of labor as increased by this 

 concession. 



